15min Trend Continuation Strategy - VSA the easy way

Trading Systems Free Forex Trading Systems
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The actual setup, is a VSA trend continuation setup, a peak with low volume at resistance indicates a downtrend, a trough with low volumes at support indicates an uptrend.

So it will be trend continuation from a wider chart than what you are looking at.

Ok so a peak of course naturally indicates a bullish reversal, but a peak with low volume increases the possibility the the reversal of that peak will continue.

I did 2 trades today, 2 longs from the support levels, this is a classic trade off of support pattern, the lowest volume of the day confirms that the uptrend is about to continue, but as you’ve seen from the previous chart you can apply the same principle in couple of ways.

Does that explain?

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Dream scalp, lowest volume of the day nearly guarantees that the pullback won’t continue and a break to up side gives you a nice easy straight forward scalp up to and past the resistance.

It don’t get much easier than that.

25

PPfx - how do you get the vol. bars to multi color? And there seems to be a different number of bars in each color frame. d

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Here’s the answer and explanation to that one (I’ve just put it up now, been meaning to for daysIndicators

It just splits the day into the different sessions, not the ‘official sessions’ but the session that suit this strategy, basically I’ve done everything possible to make trading this strategy and even trading itself hopefully the easiest it can be with a painting(trading) by numbers approach, I hope it’s working, well if it’s working for me the only reason it’s not working for you is because I’m not explaining it right.

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Oh, and lest I forget, there was another setup and another scalp, if you’d have stayed in you would have been stopped out, there’s one heck of a lot to be said about using this strategy with a 30 PIP TP, that is the best approach, unless you’re using it for longer term trade entries, but unless it look just too obvious that you’re going to get a pile of PIPS, just take 30, if you take 30 each time, you will make a profit and you won’t have to think about what you are doing so much.

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I got +20 shorting the A/$ at 10:15 my time, got out at an arbitrary 20 pips (1.05600) but it since has gone down to 1.05440 so a 30 pip TP would seem better for this pair. I tried to download the indicator but IE said the page can’t be found. I’ll try later.

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Cool, I only trade the EUR/USD to be honest, but it is 100% a strategy that you should be able to apply to any pair, it’s VSA after all, it applies to any trading, so it’s great to hear you are having success on other pairs.

The indicator is on now, ****ed up on the upload, so many directories, so little time.

I’m thinking the session volume indicator might not be that useful for non EUR and US pairs, but as I said before it’s a paint by numbers approach I’m using, I’ve cherry picked the best trades from the best strategy, and made it as easy as possible, i.e. trade the same pair, in the same way in the same timezones, but hopefully, some will apply it to other currencies and in different timezone, but that low volume on pullbacks is a GEM.

P.S. at this time it’s “Kill Zone” a term coined by ICT, to me it’s violet, then after violet it’s black and that is a time where no should ever trade.

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According to one group of VSA traders (rooting from forexfactory btw), those black zones are called DEAD ZONES. According to their guru, you should be very careful trading VSA in these zones, because traditional VSA signals may not result in expected price movements. That’s basicly what you just said, I just wanted to point out that you are probably on the right track with your session indicator.

I also like your new webpages BTW.

Is there any way you could tell us what is your succes rate trading just this specific strategy? I know you say it’s very low-risk but how much winning/losing ratio are we talking about? Just a guess would be fine…

Thanks for your time Purplepatch.

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Thanks, yes exactly the same thing, this is my ‘little’ philosophy, I’m staring at a chart I’m normally thinking stuff other than about time, I’m thinking of setups and patterns and stuff, so you want to get a slap on the head to say that what you’ve been doing for the last 2 hours don’t apply anymore, it’s like you couldn’t tell me, but colours talk to me, it might not help everyone, Oh ****, won’t the colourblind see no difference between the green and the black, well if there is get in touch.

Anyway I rattle on, sorry, but yes, that’s why I often refer to ICT and a few others that provide such great trading education and learning, we’ve at worst learnt from each other, and most probably I have learnt more from them, but I’m quite good at the K.I.S.S. stuff.

Success rate, it varies so much, the entries are so damned good, but I’m a big BE+1 fan, but you got to read it, if you read it right yesterday you could have got something like +7, 0, +70, today, I came back after a bit of shopping, and nailed 30 PIPS, but yesterday I actually got -17, then got the nice long for 40 pips or so with the ‘leap’, then nothing for 3 days.

So it’s always gonna be how you trade it, but SagiCZ, from the 1500 pips amonth thread, don’t you remember a quote by EnPoint that said - ppf only trades these setups because they are so profitable, or words to that effect???

I’ll find it tomorrow!

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And here’s my secret trade tip for today - DON’T TOUCH IT, it just won’t happen, even if it does you should be done and dusted with your profits this week, and Friday’s, don’t trade on Friday’s, it’ll spoil the weekend!

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Noob question but what do I do with the .ex4 file? :17:

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Save it to your indicators folder then it will appear in the list of custom indicators in MT4, but you need to close MT4 then load it again before it will appear.

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Brilliant. I’ll let you know my results.

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Cool.

P.S. I expect it will be ‘shroom’ time soon :wink:

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Hi, purplepatchforex! Nice system, thx alot. What is exactly “low volume”? lowest one in current session or what? and what is the purpose of sessions?

Also would you mind coding it for Stockmarkets, I would use the indi for S&P500 trading. with the following sessions (all EST)

  1. 9:30 am - 10:30 am
  2. 10:30 am - 12:00 pm
  3. 12:00 pm - 13:30 pm
  4. 13:30 pm - 15:00 pm
  5. 15:00 pm - 16:00 pm

Regards,
snu.

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It’s the lowest volume since 7am BST(GMT+1) but use your discretion for the first two candles, the purpose of the session is to split up the trading day to the London and mid morning and NY open.

Two reasons why I won’t code the indi is:-

  1. I’ve researched which is the best volume indicator by different brokers for this strategy and MBTrading is the best, there is an alert on it which pops up tell s you when there is the required low volume, so you can just run MT4 in the background until you get an alert.

  2. I just won’t! :smiley:

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Makes sense =) Could you at least share the mq4 file? I’ll try to do it myself

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It wouldn’t be any use, there’s no mystery to it, just change the colour of the Bar, that’s all. It’s very handy for the strategy, but that’s because it makes it easy for me to reference my trading archive, but it’s not essential and it might not even compliment the Volume data you get from your platform.

All brokers volume data is different, you’ll find that the peaks and trough are generally in the same place, but as for the lowest volume of the day on MBTrading being in the same place as on your platform, who knows? So my best advice is, that if you want to try the strategy, just use MBTrading to start with, then when you get familiar with it consider charting on your platform.

41

Cracking entry today, low volume on resistance level, then a break with increased volume, you can get in early with the pro rata indicator with my session volume indicator, but so often these trades come back to the break level to give you a second chance.

It’s not my only trade of the day, I did have a loss, but personally I don’t see much point in giving examples that don’t work out, it’s just clutter.

42

An interesting strategy PurplePatch, seems so simple and I like the coloured session times.

Looking forward to trying it out tomorrow if an entry opportunity comes by.

I`ll let you know how I go.

Regards
Stephen